Banking Exams Quant — Question 706
Question
Principal is ₹15000, rate 9%, time 2 years. Find compound interest.
- ₹2621.50
- ₹2721.50
- ₹2821.50
- ₹2921.50
Correct answer
C — ₹2821.50
Explanation (English)
CI = P[(1+R/100)^T - 1] = 15000[(1.09)² - 1] = 15000×0.1881 = 2821.50
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